Vodafone Idea’s net loss declines

Vodafone Idea's net loss declines

New Delhi: Consolidated loss of debt-ridden telecom company Vodafone Idea in the third quarter of the current financial year 2020-21 was Rs 4532.1 crore. The net loss of the telecom company has decreased compared to the previous financial year. Vodafone Idea had a net loss of 6438.8 crore in the third quarter of October-December 2019 of the last financial year. Revenue through operations declined 1.7 percent in the December quarter.

Vodafone Idea Ltd (Vi), the country’s third largest company by market share, reported a net loss of Rs 7218 crore in the second quarter of the current financial year. Net loss of the company declined due to increase in 4G wireless customer, cost optimization and improvement in service quality.

Revenue declined through operations in the third quarter of the current financial year October-December 2020. According to the information provided by the company, the revenue in the December quarter decreased by 1.7 per cent and after this decline its revenue stood at Rs 10894 crore. In the third quarter of the last financial year, October-December 2019, the company’s revenue was Rs 11089.4 crore. However, the company’s revenue increased by 1 percent compared to the second quarter of the current financial year. The increase in revenue of the company on a quarterly basis was due to higher average revenue per user (ARPU). The ARPU of the company was Rs 119 in the second quarter of the current financial year, which increased to Rs 121 in the third quarter. The company’s EBITDA increased to Rs 4286 crore in the December 2020 quarter, compared to Rs 3421 crore in the December 2019 quarter.

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